Guidelines of the Electric Market
Author: Juan Carlos Machorro
Law firms: Santamarina y Steta
On 8 September 2015, in accordance with the third transitory article of the Electric Industry Law, the Ministry of Energy published the Guidelines of the Market (the “Guidelines”), as the general administrative provisions which establish the principles for the design and operation of the so-called Wholesale Electricity Market (“MEM”, for its acronym in Spanish, “Mercado Eléctrico Mayorista”).
The Guidelines are part of the Rules of the Market and define the rules that all market participants as well as the competent authorities must comply with, and the procedures they must follow in order to maintain the proper management, operation and planning of the MEM.